News: VEA Viva Energy To Return Remaining Proceeds From Sale Of Waypoint REIT Interest To...

Aug 17 (Reuters) - Viva Energy Group Ltd (VEA) :

• TO RETURN ALL REMAINING PROCEEDS FROM DIVESTMENT OF ITS INTEREST IN WAYPOINT REIT (FORMERLY VIVA ENERGY REIT) TO SHAREHOLDERS
• TO PAY CAPITAL RETURN (SUBJECT TO SHAREHOLDER APPROVAL) AND A SPECIAL DIVIDEND IN AMOUNT OF $530 MILLION
• EXPECT REFINING MARGINS TO REMAIN UNCERTAIN AND CHALLENGING AS REGIONAL AND LOCAL DEMAND RECOVERS OVER REMAINDER OF 2020 AND 2021
• PROPOSES TO RETURN ABOUT $530 MILLION, AT $0.2740 PER SHARE TO SHAREHOLDERS IN OCT
• ON GEELONG ENERGY HUB, AN EXPRESSIONS OF INTEREST PROCESS TO ESTABLISH AN LNG REGASIFICATION FACILITY UNDERWAY
• EXISTING BUY-BACK PROGRAMME EXPECTED TO CONTINUE FOLLOWING IMPLEMENTATION OF CAPITAL RETURN AND SPECIAL DIVIDEND
• EXPECT TO BE IN A POSITION TO COMMIT TO FEED WORK BEFORE YEAR-END & CONTINUE WORK ON OTHER OPPORTUNITIES ASSOCIATED WITH ENERGY HUB
• MAINTENANCE ON RCCU PROGRESSING WELL, EXPECT THAT REFINERY WILL BE READY TO RETURN TO FULL PRODUCTION BY LATE OCT 2020
• RCCU RESTART WILL BE DEPENDENT ON RECOVERY OF LOCAL DEMAND & REFINING MARGIN ENVIRONMENT EXPECTED AT THAT TIME